Iraq has warned Royal Dutch Shell it needs to finalise a $12 billion gas deal by next week or it would cancel negotiations over the agreement, the country’s deputy oil minister said on Monday.
“We warned Shell that either we finalise… the deal next week or we will cancel everything,” Deputy Oil Minister Ahmed al-Shamma told reporters.
“We will not allow discussions to drag on any longer.”
Since the signing of an initial agreement in 2008, Iraq has been working to finalise a joint venture between its South Gas Co, Shell and Mitsubishi to capture associated gas at southern oilfields. The deal has suffered a series of setbacks including legal hurdles and political opposition.
